A Canadian province Cuts Off Power to Crypto Miners

A Canadian province Cuts Off Power to Crypto Miners

Time Stamp: December 23, 2022 1:40 AM
Source Node: 1781902
  1. Canadian province has paused new electric connection requests to support climate action and economic goals.
  2. The interim suspension will protect the province’s supply of energy.
  3. Seven mining operations that are already up and running will not be affected.

The Canadian province of British Columbia has put a temporary stop for the next 18 months on any new requests for energy connection from cryptocurrency miners. This action is being conducted in order to provide support to the climate action and economic objectives of the province of British Columbia.

The people of British Columbia believe that the interim suspension will protect the province’s supply of energy. Additionally, the suspension will provide the government and BC Hydro with enough time to engage in dialogue with the business community and First Nations. 

On the other hand, a long-term infrastructure for any future cryptocurrency mining activities will be developed.

Notably, residents of the Canadian province have voiced their displeasure over the fact that the miner has only contributed a relatively small number of employments to the local economy. It is also very important to take into consideration the fact that there are 21 projects asking for 1,403 megawatts that will be temporarily halted.

The Minister of Energy, Mines, and Low Carbon Innovation, Josie Osborne stated:

“We are suspending electricity connection requests from cryptocurrency mining operators to preserve our electricity supply for people who are switching to electric vehicles and heat pumps, and for businesses and industries that are undertaking electrification projects that reduce carbon emissions and generate jobs and economic opportunities.”

The government has however made it clear that seven cryptocurrency mining operations that are already up and running will not be affected by the suspension. 

This includes six others that are very well along in the connection process with BC Hydro. These projects use a combined total of 273 megawatts of electricity.

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Tags: CanadaeMining

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

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